Features

Three ways the new open banking scheme can benefit small business

- January 1, 2020 3 MIN READ

A huge change is already underway in Australia’s banking sector. And, in January, consumers and businesses can finally experience some of its benefits first-hand, writes Steve Kemp, Head of Financial Institutions Partnerships APAC and Emerging Markets, Intuit. Since last year, regulators, Australia’s Big Four banks (NAB, Commonwealth, ANZ and Westpac) and a test working group… Read more »

Business Basics

Small business insolvencies rise as economy worsens

- November 6, 2019 2 MIN READ

“It’s the canary in the coal mine,” warns Patrick Coghlan, CEO of CreditorWatch as small business insolvencies rise 20 per cent over the last quarter, an increase of 8 per cent year on year. Coghlan suggests the rise in businesses being declared insolvent doesn’t bode well for the economy. Coghlan’s comments follow the release of… Read more »

Features

The benefits of small business loans from online lenders

- June 21, 2019 2 MIN READ

As the end of financial year approaches, many small business owners are considering taking advantage of the government’s $30k instant asset write-off. For many SMBs this requires access to finance. However, the Reserve Bank of Australia recently reported one in five small businesses struggle to gain finance from a traditional lender, indicating it’s time business… Read more »

Growth

Small businesses profiting from virtual CFOs

- May 27, 2019 2 MIN READ

While a chief financial officer (CFO) might seem like something only a big corporation can afford, more small business owners are turning to the advice of virtual CFOs to boost their profit and grow their businesses according to new research by CFO-On-Call. While the concept is still relatively foreign within the Australian business vernacular, engaging… Read more »

Finance

Small business struggle to find finance, Ondeck reports

- April 15, 2019 2 MIN READ

Research by online lender Ondeck has found small business owners are increasingly struggling to secure finance from traditional lenders. In response, SMEs are turning to online lenders, family, friends and credit cards to supply the funds they need to grow their business. The study found one in four SMEs have had their loan applications rejected… Read more »